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Tax Tip

Employing family members

Have you considered employing family members in your business? As long as you can justify their involvement, you can employ them in your business. In a limited company, they can be remunerated with a salary, receive benefits, and be included in your company pension scheme. If you are in a partnership, taking your non-minor children into the partnership and gradually reducing your own involvement can be a very tax-efficient way of passing on the family business.

Please get in touch to discover the most tax-efficient way to involve your family in your business.